Displaying 490 results
The ripped-off investors allege Pershing looked the other way when it serving as custodian and clear agent for the fraudster.
Ending mandatory arbitration has become a top priority for consumer advocacy groups, like the Public Investors Advocate Bar Association and others, that claim investors should have the option of laying out their case before a judge or jury.
The organization will reopen hearings on Aug. 2 in seven jurisdictions that had remained closed. Finra postponed in-person arbitration hearings when the pandemic began in March 2020.
The measure, which would have established a special roster of arbitrators to hear broker requests to clear their records, was criticized by PIABA as being too limited to address the problem.
The wirehouse disputes the damages and asserts the case is not indicative of how other arbitration panels may rule on the investment products.
Finra will reopen 62 of its 69 hearing locations in July, while allowing arbitration parties to continue to request remote proceedings. Even if in-person proceedings are allowed, Finra said arbitration parties can still continue to request a remote hearing.
The regulator has extended its postponement of in-person arbitration proceedings through July 2, but says it expects to resume normal proceedings in some locations as coronavirus vaccinations increase.
The Securities Industry and Financial Markets Association opposes the bill, saying arbitration 'promotes fair, efficient, and economical dispute resolution for all parties.'
The companies are concerned about bias on the arbitration panel. But an attorney for the claimants said the two failed to warn investors of red flags detected in their accounts.
The focus on the climate and finance at the hearing likely was a harbinger of the priority the SEC will place on environmental, social and governance investing under Gensler. But Reg BI was ignored.
'Investors harmed by Robinhood’s trading restrictions should be able to argue their case in court, rather than in closed-door proceedings that are too often rigged against claimants,' Warren wrote in a letter to Finra CEO Robert W. Cook.
A retailing matriarch won the decision against her grandsons, who invested her money in complex products. J.P. Morgan and the grandsons were also found liable for elder abuse under Florida law.
The first investor arbitration claims involving the products have been decided over the past few months, but the claim against Arete Wealth Management appears to be the first substantial win for investors against a broker-dealer.
The U.S. Court of Appeals affirms an earlier ruling against Morgan Stanley in a case regarding the sale of Puerto Rico bonds
Amy Webster was a former bank broker for Wells Fargo Advisors for 13 years and claims the company made 'defamatory' remarks on her Form U5
Arbitrators also rebuffed brokers’ counterclaims of defamation and unfair competition
The rule would establish a special roster of arbitrators for expungement and set deadlines for requests
New statistics from regulator show slow pick-up, but concerns remain over use of Zoom
Arbitration lawyer says decision sends signal to ‘Wall Street bullies’; Credit Suisse points to wins in other cases
Sponsors have interest in adding them to their retirement plan documents, but the courts are up in the air, lawyers said
- Practice Management
- Social Security
- Individual Retirement Accounts
- Retirement News
- Women Adviser Community
- Alternative Investments